Limited Liability Partnership is governed by the Limited Liability Partnership Act, 2008. Every LLP as we know is required to have some name before commencing any type of business. Name is an important aspect in any form of business entity. It reflects the type and business of a Company too. Similarly, name of Limited Liability Partnership should also specify the type and business to be carried on by LLP. Name of a LLP can be changed after complying with the following requirements under the LLP Act. The procedure for change of name are summarized as below â€“
- Governing Body – The procedure for change of name of limited liability partnership is governed by Limited Liability Partnership agreement and the provisions of (Section 19) of Limited Liability Partnership (LLP) Act, 2008.
- With the consent of all partners of LLP a clause for change of name can be made in the LLP agreement if it does not contain so.
- Form to be filed â€“ An application is to be made in e-Form 1 for the availability of proposed name with the Registrar along with the following attachments â€“
Â Â Â Â a)Â Copy of the minutes of decision/resolution/consent of partners Â Â Â Â b)Â If change is due to a direction received from the Central Government/ Registrar, then a copy of such direction, Â Â Â Â c)Â The extracts of the relevant provision of the Limited Liability Partnership Agreement, if any, Â Â Â Â d)Â Any other Optional attachments
- Certification – The form must be certified by certifying authorities as mentioned in the form.
- Payment of fees â€“ Required amount of fees is to be paid in respect of change of name of LLP. The payment has to be made by credit card.
- The name approved shall be available for adoption for a period of 3 months.
- Intimate the Registrar â€“ After receipt of approval of name intimate the Registrar in
E-form no. 5.
- Update the Registers – The changed name must appear on all official documents and registers of Limited Liability Partnership.
Things to be avoided while selecting/ changing the name of your LLP For proposing a name for LLP the following must be avoided â€“
- Name not to resemble the name of any existing LLP
- Use of names prohibited under The Emblems & Names (Prevention of Improper Use) act, 1950.
- Use of name which suggest state, national or international, patronage or participation in its absence.
- Use of names containing numerals like 19th.
- Use of vague alphabets like FHDFBN Ltd.
- Use of the word â€˜co-operativeâ€™ or â€˜sahakariâ€™.
- Use of general names such as â€˜Cotton Textilesâ€™ or â€˜Silk Manufacturingâ€™.
Thus keeping the above things in mind name of the LLP can be changed.